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The original item was published from 10/17/2022 4:39:40 PM to 10/31/2022 5:05:04 PM.

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Posted on: October 17, 2022

[ARCHIVED] Public Disclosure of Tax Valuation


Following state statutes and Department of Revenue (DOR) regulations, the Board of Assessors is completing the FY2023 Quinquennial Revaluation of all real and personal property in Concord. Revaluation is a year-long process when the DOR examines in detail all assessing methodologies used by the town, as well as the values derived through the mass appraisal system.

These valuations have been preliminarily approved and are pending final certification approval by the Massachusetts Department of Revenue.  The values are subject to change within this disclosure period. The public review will run from Tuesday, October 18, 2022, to Monday, October 31, 2022.

The revaluation process includes a public disclosure requirement to let property owners know that there are proposed new values.  A listing of all proposed residential property values is accessible on Concord’s website,  Listings of the proposed new values will also be available for viewing at the Town House, Concord Public and Fowler Branch Libraries and Harvey Wheeler Community Center.  If you wish to obtain a copy of your property record card you should call the Assessor’s Office and one will be mailed to you.  The Assessor’s office number is (978) 318-3070. 

Using the mass appraisal method, the goal is to arrive at values that are at 100% of market value.  Valuations are based on sales, using the last full calendar year before the beginning of the applicable fiscal year. Calendar 2021 sales were used in the Fiscal 2023 value analysis.

Only actual qualified sales are used in the sales analysis.  A qualified sale is one that is determined to be an arm’s length sale: a real estate transaction in the open market freely arrived at by normal negotiations without undue pressure on either the buyer or the seller.  

The CAMA (Computer Assisted Mass Appraisal) is a system is used to calculate the values.  CAMA tables with the factors used to calculate the values are updated each year based on the sales analysis.  The factors are adjusted so that the median assessment to sale price ratio is within 10% of 100% of fair market value.  The computer model created is then applied to the properties of the entire town to arrive at a new value for each property.

Highlights of proposed changes from FY22 to FY23:

  1. Overall town valuation up 18%
  2. New Growth increased by 28% 

% Change by Classification:

Single Family Residential –               19%
Residential Condominiums –             15%
Apartments –                                      23%
Commercial -                                      9%
Industrial -                                          11%

The Select Board decides several tax policies, which affect the calculation of the tax rate.  These policies are voted on at the annual Classification Hearing which will be held in November.  Actual FY23 values are reflected on the January 1, 2023, tax bills.  The tax rate is dependent upon the budget that is adopted by Town Meeting, and to a much lesser degree variances in state aid and other receipts and borrowing authorizations.  If there were no change in the budget and values remained constant there would be no change in the tax bill.  If the budget goes up the rate goes up, but if the valuation increases and at a greater rate than the budget the tax rate would come down.  

Please access our website for the most up to date information and contact the Assessors’ Office during the public disclosure period to ask questions and review your property information.    

The Assessor’s Office is open from, 8:30 am to 4:30 pm Monday thru Thursday and 8:30 a.m. to 12:30 p.m. on Friday.

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